Business

Demand for digitization of documents increased DocuSign's revenues by almost 50%

In Brazil, search for its e-signature solutions started to grow in March both in big and small firms

DocuSign headquarters in SOMA district. Photo: Shutterstock
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  • Globally, the company has added 88,000 customers to its base;
  • Sales VP for Latin America highlighted demand among retailers and small and medium-sized enterprises.

DocuSign, a provider of e-signature and digital documents solutions, saw the demand for its services sharply increase during the pandemic. On its latest quarterly results, announced last Thursday, the company reported that total revenue in the three months up to July 31 was $342.2 million, an increase of 45% year-over-year. 

Subscription revenue, in its turn, was $323.6 million, an increase of 47% year-over-year. Professional services and other revenue was $18.6 million, an increase of 25% year-over-year.

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In Brazil, demand has grown since March, both in more advanced segments, among banks and insurance companies, as well as in more timid sectors including retail, informed Gustavo Brant, the company’s sales VP for Latin America, in an interview with Valor Econômico

“Retailers had to rely only on e-commerce and make everything around their products digitally, including extended warranty contracts, for example,” explained the executive. According to him, there was also growth in the health sector and among small and medium-sized companies. 

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Globally, the company has added 88,000 customers to its base, an increase of 55% over the same period last year.

“In an accelerating digital world where business can be conducted from anywhere, the need to agree electronically and remotely has never been stronger, as shown in our 61% year-over-year billings growth,” said Dan Springer, CEO of DocuSign. “We are just scratching the surface of our Agreement Cloud opportunity and believe we are increasingly becoming an essential cloud-software platform for organizations of all sizes.”

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